City Union Bank First Quarter Net profit 32% up

The Board of Directors of CITY UNION BANK LIMITED approved the
un-audited working results for the first quarter of FY 2011-12 at its meeting held in Chennai.

Net Interest Income for Q1 FY 2012 went up smartly by 30% to Rs.120.04 Cr. Operating
Profit increased by 35% for Q1 FY 2012 to Rs.106.36 Cr and PAT grew by 32% for Q1 FY
2012 to Rs.58.51 Cr. The Net Interest Margin for the quarter stood at 3.59% and Return on Assets was at 1.57%.

KEY BALANCE SHEET INDICATORS :
Gross NPA level was reduced from 1.30% to 1.22% and net NPA level was brought down
from 0.54% to 0.51% as on 30.06.2011. The Provision Coverage Ratio as at 30.06.2011
stood at 76.06%.
Total Deposits of the bank increased by 28.40% to Rs.13624 cr as on June 30, 2011 from
Rs.10610 cr as on June 30, 2010. Gross Advances went up by 33.02% to Rs.9591 cr as on
30th June 2011 from Rs.7210 cr as on 30th June 2010. The growth in Savings Account
deposits was 19% as on June 30, 2011. The Bank’s Balance Sheet size increased to
Rs.15470 cr as on 30th June 2011 from Rs. 11995 cr as on 30th June 2010.


Other Performance Highlights and Ratios (Q1-FY 2011-12):
Advances at Rs.9591 cr – Growth of 33%
Deposits at Rs.13624 cr – Growth of 28%
Annualized Return on Assets of 1.57% and Return on Equity 22.57%
Net Interest Margin at 3.59%
Capital Adequacy Ratio – 12.22 (Excluding current quarter’s profit, as per RBI directive).
Book value per share – Rs.26.23%
Basic EPS (not annualized) – Rs.1.44
Diluted EPS (not annualized) – Rs.1.43
Provision Coverage Ratio at 76.06%

Functional Performance of the Bank:
Operates 259 branches and 280 ATMs (onsite & offsite)
200 Point of sale Terminals installed for the benefit of VISA & Master Cards.
Bill payment facility enlarged through Atom Technologies.
In the current financial year, the bank so far opened 11 branches and 49 ATMs and has
planned to open 41 branches and 170 ATMs before the end of March-2012 and thereby
the bank will have a net work of 300 branches and 450 ATMs as on 31.03.2012.
Enhanced withdrawal limit for VISA Card holders.
Introduced cash and Cheque collection facility for priority customers at their Door step.
Introduced online income tax payments and viewing of Form 26AS for Net-banking
customers
Introduced opening of Fixed Deposits through online.
TNEB payments through all of our Branches and also through Net-banking.
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Foreign investors must have PAN for investing in MF

PAN is a 10-digit alpha-numeric tax payer identification number that is allotted to an individual and is increasingly required to be quoted with financial transactions.

Individual foreign investors seeking entry into Indian stock markets will now have to acquire PAN (Permanent Account Number) or the Passport to all financial transactions. The mandatory PAN was announced recently by the finance ministry while outlining the framework for foreign retail investment in mutual funds.

"The Central Board of Direct Taxes, the apex direct taxes body, will soon issue an instruction in this regard.

However, to ensure that the requirement does not make investing cumbersome, PAN will be issued on the basis of know your customer (KYC) scrutiny of the investor.

However, experts say tax authorities should clarify that acquiring a PAN will not trigger an obligation to file income tax return here.

Primary concern these investors have is that PAN could trigger an obligation to file return.

The government has allowed individual foreign investors to invest in domestic MFs, thus creating a new class of investors called Qualified Foreign Investors.

Sebi is expected to notify the norms governing these investors soon. These investors would be able to put money into domestic MFs through Unit Confirmation Receipts (DPs) or Depository Participant route. QFIs could be individuals and bodies, including pension funds, and cumulatively they can invest up to $10 billion (about Rs. 50,000 crore). Dividend income earned by these investors would be tax-free. At present, only FIIs, sub-accounts registered with SEBI and NRIs are allowed to invest in MF schemes in India.
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India's total demate accounts increase to 2 crore

The number of demat accounts with the country's two leading depositories, NSDL and CDSL, has grown substantially.

Demat account is opened to hold shares in dematerialised or electronic form. It does away with the problems (such as theft, forgery and loss in transit) associated with holding shares in physical form.

Driving the growth are banks and broking firms which have been offering a free demat account facility to existing clients and prospective investors as part of their marketing efforts.

Higher number of accounts, however, there is no improvement in participation of retail investors, as most of them continue to shy away from trading amid concerns over uncertain market conditions, according to brokers. As a result, many demat accounts are lying inactive continuously for the past many months.

From 2011 January this year, NSDL, the largest among the two depository services providers, has added 4 lakh new accounts, taking its tally to 1.17 crore at the end of June. CDSL has recorded a growth of over 9.16 lakh (increse 12%) to 76 lakh accounts in the last one year. An on 2011 July end India had nearly 2 crore demate accounts.

Higher no of demat accounts, however, have not given a leg-up to falling trading volumes, as less than 10% of demat account holders trade on a regular basis in the current market.

Declining volumes have prompted a host of brokers, including Kotak Securities, Sharekhan, Anugrah Finance, Unicon Financial and Nirmal Bang, to offer free demat and broking accounts to acquire new clients. Investors need to pay only a margin amount of money and registration charges while opening demat and trading accounts. Many brokerages, in fact, have slashed margin money which used to be in the range of Rs 5,000-10,000 a couple of years ago.

Banks like SBI, ICICI Bank, Axis Bank, HDFC Bank and IDBI Bank are offering three-in-one trading accounts to their banking clients. A 3-in- 1 account is one where savings and demat accounts are linked to an online trading account. Trading charges and other incidental expenses are linked to the volumes generated by investors.
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Family Mediclaim : IOB Health Care PLUS

The public sector bank IOB - Indian Overseas Bank provides a  scheme for Mediclaim Insurance cover, which is available to all account holders maintaining a S.B. or C.D account in the age group of 18-65 years.

The scheme is available to NRI customers also. However, the cover is available for treatment in hospitals in India. The Mediclaim Insurance cover is provided by Universal Sompo General Insurance Company Ltd (USGI).
The Scheme takes care of the hospitalization expenses, subject to maximum Sum Insured, in respect of the following eventualities:

1. Sudden illness

2. An accident

3. Any surgery that is required in respect of any disease.

Salient Features:

* The health insurance cover is available for a very low premium, which is far below the normal premium if the policy is taken individually by the account holder, directly from Insurance company.

* Entire family of account holder, spouse and two dependent children are covered under Floater policy. Even parents of account holder are covered for additional premium.

* Coverage option from Rs.50,000 to Rs.5.00 lakh is available.

* Upper age limit for entry is up to 65 years. However, renewals are allowed up to 80 years. Age limit of dependant children - For male up to 21 years; For female up to 25 years or till their marriage whichever is earlier.

* Preexisting diseases are not covered. However, the preexisting disease is covered in case of three continuous claim free years.

* Ambulance charges up to Rs.1,000 is reimbursable per policy period.

* Cost of health check up allowed @ 1.00% of sum assured after completion of 3 continuous claim free years of policy.

* In the case of Hospitalisation of children below 12 years a lump sum amount of Rs.1,000 as out of pocket expenses to any of the parent is payable per policy period.

* Maternity benefit and baby care expenses are also reimbursed up to 5% of sum insured.

* Treatment of NRIs in Indian Hospitals is allowed.

* Treatment in hospitals in Nepal and Bhutan are also covered in Indian Currency.

* Personal Accident death cover is available for additional premium.

* Income tax benefit is available under section 80D for the premium paid.

* Cash less access to networked hospitals is available through Third Party Administrator (TPA).

* In case of death in hospital, funeral expenses are reimbursed up to Rs.1000 over and above the sum insured subject to original illness/accident claim admitted under the policy.

What are the exclusions in the policy :

* The policy does not cover preexisting disease. However, the preexisting disease is covered in case of three continuous claim free years.

* Hospitalisation expenses incurred in the first 30 days from the date of commencement of the cover except in the case of death due to accident.

* Domiciliary hospitalisation is not covered under the policy.

* Other standard exclusions applicable to mediclaim policy will also apply.

How can one become a member: The procedure to become a member of the scheme is very simple. There is no medical examination. All that the account holder requires to do is fill up and sign a proposal form which includes declaration of good health.

How the premium is to be paid : The premium will be debited to the S.B. or C.D. account as per the authorisation given in the proposal form.

What is the period for which the insurance is available and how it is renewed : The insurance cover is available for a period of one year from the date of debit of the premium. Renewals are to be done on yearly basis on or before the due date.

What are the documents given in proof of insurance: The account holder will be issued with a copy of the proposal form duly acknowledged by the branch for having debited the premium amount to the account. After receipt of the proposal form by the Insurance company and TPA, a policy will be issued by Insurance company and ID card will be issued by TPA.

How to make a claim in case of hospitalisation: Cash less treatment can be availed at networked hospitals by showing the ID card issued by TPA along with the necessary ID proof as prescribed by the Insurance company and copies of valid insurance policiesand in case for any reason cashless service could not be availed, the insured can meet the hospital expenses and claim reimbursement from Universal Sompo General Insurance Company Limited(USGI).

Important Addresses:

Address of Universal Sompo General Insurance Company Limited
1. Universal Sompo General Insurance Company Limited
Head Office
A - 201, Crystal Plaza
Opposite. Infinity Mall
Link Road, Andheri (West)
Mumbai - 400 058
Phone: 022-40287777 , Fax: 022- 40287781

2. Universal Sompo General Insurance Company Limited
Southern Zonal Office
"Capitale Towers", 5 th Floor, "B" Wing
554-555, Anna Salai
Teynampet, Chennai - 600 018
Phone : 044-42975000

Address of TPA

TTK HEALTHCARE SERVICES PRIVATE LIMITED

ANMOL PALANI, NO: 88, G.N. CHETTY ROAD

L 2, T. NAGAR, CHENNAI-600 017
PHONE NO:044-42894444, 42894530; FAX-42024343
Toll free number: 1800 425 7575 / 1800 424 8885
e-mail: iob@ttkhealthcareservices.com

What is the premium payable under the scheme

please visit http://www.iob.in/IOB_Health_Care.aspx
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DHFL - Dewan Housing Finance net profit up to Rs 67 crore

One of the India's leading Housing Finance company, Dewan Housing Finance Corporation (DHFL) has posted a 28 per cent jump in net profit at Rs 66.78 crore for the first quarter ended June 30, 2011. DHFL had a net profit of Rs 51.24 crore for the corresponding quarter of the last fiscal, the housing finance firm said in a statement.
The total income of the DHFL during the period increased by 66.5 per cent at Rs 497.70 crore compared to Rs 298.90 crore during the year-ago period.
Loan disbursements during the quarter grew by 22 per cent to Rs 1,554.41 crore as against Rs 1,274.05 crore in the corresponding quarter previous year.
Loan sanctions rose by 17.44 per cent to Rs 2,078.57 crore as compared to Rs 1,769.95 crore in the April-June period last year.
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Chennai real estate very fast ahead of 15 other realty markets NHB Residex

Chennai very fast ahead of 15 other realty markets

Ever since the National Housing Bank (NHB) started preparing residex - an index for tracking the prices of residential properties - in 2007, Chennai has been in the news for steep increase in residential prices.


According to NHB data, Over the past 4 years, housing stock prices have risen 2.18 times in Chennai,. But for a slight dip in prices between July and December 2008, primarily on account of the global meltdown, residex has been steadily heading northwards in Chennai.

The city overtook Kolkata, another overheated market a year ago.Over the past four quarters until March 2011, Chennai has topped the NHB survey, which has 15 other cities. Between January 2010 and March 2011, when the latest residex was released, apartment prices in the city has increased by close to one-third.

The only other major city to record a 30% per cent increase in price is Mumbai. However, two smaller cities marched ahead of Chennai -- Lucknow (40%) and Ahmedabad (46%).

There is hardly any place in Chennai's 20 km radius where prices have not shot up by at least Rs 1,000 per sq ft since January 2010. The cost of a two-bedroom apartment even in places like Maduravoyal or Virugambakkam that lie in the fringes of the city is Rs 40 lakh and above.
Even for the upper middle class, buying a house in the core city is becoming difficult. One should have a take home salary of Rs 80,000 and above to become credit worthy for buying a house and that too in the fringes of the city.

Builders point out that demand is driving the prices northwards. Wherever the supply is less and demand is more, prices have gone up
http://www.nhb.org.in/Residex/About_Residex.php
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Bhartiya group launch integrated township in Bangalore

Bhartiya group's flagship company Buildco, is going to launch Bhartiya City, a 125-acre integrated township in Bangalore.

The project spread will be a complete integrated township divided into eight main areas like Residential, Office space, IT, SEZ, Retail, Hotels, School and Hospital. All the components will be organised within walking distance from each other. The project aims to provide the luxury of staying and experiencing the amenities of a township located in the country’s IT hub.

The township will be located in Bangalore’s new growth corridor – between central business district and the international airport.

Bhartiya City will have integrated urban life spaces of 2 crore sq ft, covering commercial, residential, retail and hospitality, along with a school and hospital. Conforming to the need of preserving nature, the group is focusing on greenery around the township in a big way by setting up parks and greenery in and around the township. It will also feature jogging and walking tracks keeping in mind the welfare of the residents.

The masterplan has been formulated by the Perkins Eastman of NY and Cox Associates of Sydney and would offer world class infrastructure and amenities to the residents. .

Mr. Snehdeep Aggarwal, Founder & chairman of Bhartiya group said, "We promote the concept of fashionable living, where design thinking holds the resident’s interest at its core, creating products and experiences that add value and happiness to the lives of people."

The Bhartiya City project envisions an investment of nearly 7,000 crore over 12 year period.

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Land acquisition Bill finalised : Draft bill for comments

Land acquisition process, rural development minister Jairam Ramesh has cleared a draft bill for public comments. The minister's land acquisition and rehabilitation bill will be up on the ministry website just a fortnight into his term at Krish Bhawan. The Bill proposes a compensation of more than six times the circle rate of land, acquired for industrial and real estate projects. This is in line with the recommendations of the National Advisory Council but given the time constraint is unlikely to be cleared by Parliament in the next monsoon session.

The Bill sticks to the National Advisory Council (NAC) script in its other major recommendations which is mandatory consent for atleast 80% of the affected people as a pre-requisite for commencing land acquisition.
Since land is a concurrent subject, the Act will however have only an advisory status unless accepted by the state legislatures.
The new bill also proposes compliance with all existing laws on tribal welfare. The bill has also suggested inflation linked annuity to those who had given up their land. The bill also suggests that if the acquired land belongs to a tribal person, then an additional compensation would have to be worked out. Besides the Bill would also have separate norms for land acquired around urban and rural areas.

After a final meeting with NAC members and other key ministry officials. Jairam gave the final touch to the bill which for the first time combines both land acquisition and rehabilitation under one law.

This would be the second attempt by the UPA government to formulate a national policy on land acquisition after series of violence protests against forceful occupation of land for industries were reported from Uttar Pradesh, Orissa, West Bengal, Maharashtra and other states in the last few years.
Earlier the National Rehabilitation and Resettlement Policy, 2007 were passed by the Lok Sabha in February 2009 and had been tabled in the Rajya Sabha subsequently. However, both bills lapsed with the dissolution of the 14th Lok Sabha.
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Resale Flats may be Cheaper than 15% to new flats

In India flats price corrections in smaller cities and some pockets in major cities has prompted some of them. Reason by the rise in both prices and interest rates.

When real estate agents show major cities flats that are for resale along with new ones in apartments that are just about to be completed or have just been completed.

The resale flat, which may be in perfect condition, would be nearly 15% cheaper than the newly-constructed flat.

Saving 15% is a huge relief when the prices and interest rates are above double digits. Last one year, home loan interest rate raised nearly 2%.

Advantages of resale property

* Resale property is that you can move in immediately.

* The carpet area may be higher.

* With an under-construction property, the end product may not be what is promised to you.

* There have been several instances of builders promising to complete the project in a particular period, but failing to stick to the deadline. some major cities construction period increase to few years.

* Also, there have been instances of buyers being cheated on the carpet area.

There is a big difference in how you buy a new property and a resale property.

New properties are sold by developers, who have offices to facilitate such sales. But, to locate a resale property, you need a real estate broker or agent. Agents are localised and are well known in their areas. Agents will tell you at what prices recent transactions have happened. They will also guide you on the finer aspects, like the water supply, transport system and the type of gentry that resides in the locality. But, same time very careful with these agents. Basically many brokers liars.

Also consult with a good lawyer, who will ensure that your paper work is in order, which is very important, especially in case of resale flats.

One may needs to check the entire history of agreements pertaining to that property.

Always insist on the ‘chain of documents’, all the agreements effecting ‘buying and selling of property’ till date since it was constructed. If you were to go for a housing loan, the bank will insist on all the documents, failing which your home loan may not go through. So if you are going for a loan from a bank, before paying the token amount, do ask for all documents.

If a property is for resale, then it usually is the building managed by a apartment welfare society.One need to check if the seller has cleared his dues to the society.

To get a home loan, you will need a NOC (No Objection Certificate) from the apartment society, which will be issued only when all the dues are clear.

If the building is old and the society is collecting extra funds for maintenance purposes, then you ought to factor that in while making your purchasing decision. It would be wise to meet an office bearer of the society to make sure that things are in order.

In addition, one needs to check if the electricity bills, phone bills, water bills and all other utility bills have been paid till the time you have taken possession of the property. Also check out things like the plumbing and the quality of wiring in the flat.

Next very important check point, parking space. Today, in metro cities, like Chennai, Mumbai, Delhi parking comes for a high cost.

Many a time, a flat owner eager to sell the property may tell you that parking is not a problem. However, when you move in, you may find it to be otherwise. You may be forced to buy a parking space or may not get space to park your vehicle. so you park car on the road side. It will be a lot of problem for you.


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Max New York Life: Guaranteed Monthly Income Plan


Mr. Rajesh Sud
Max New York Life Insurance recently announced the launch of “Max New York Life Guaranteed Monthly Income Plan, a unique, first of its kind financial solution, that provides additional boost to the monthly income, with quantum of payout indexed to a benchmark G Sec rate.

The Guaranteed Monthly Income Plan not only ensures a regular income flow to achieve life stage goals, but also provides an extra cushioning against any unexpected increase in monetary needs. Additionally the plan also ensures your family’s lifestyle is protected against any exigencies by providing a comprehensive protection component.

Max New York Life Guaranteed Monthly Income Plan has been developed after a detailed understanding of consumer needs. Researches were conducted among consumers to get a better understanding of how they chose and purchased life insurance policies. These researches revealed an important aspect of consumer behavioural pattern where consumers were averse to taking risk and prefer guaranteed returns while planning for the long term.

Max New York Life Guaranteed Monthly Income Plan provides an edge to its customers by helping them plan for their child’s education, their retirement or any other financial goal that they may have set in a safe, secure and guaranteed manner.

Mr. Rajesh Sud, CEO & Managing Director, Max New York Life Insurance
said, “We design products keeping in the mind the future needs of our customers. The rising cost of living and securing ones future is clearly a concern. Guaranteed Monthly Income Plan has been designed with an objective of filling in this gap of extra income and securing ones future in the years when household needs are at its peak.”

Features & Benefits

* Flexible Policy Terms - The plan offers flexibility to choose policy terms. Consumers can choose either 6 years or 11 year policy term depending on their financial goals.


* Guaranteed Monthly Income - The plan lets consumers choose the guaranteed monthly income they desire. This income is guaranteed to be paid for a period of 10 years (120 months) from the end of policy term.


* Monthly Income Boosters (“MIB”) - The plan also offers MIB to provide additional boost to the guaranteed monthly income, with quantum of payout indexed to a benchmark G Sec rate, starting year 12. This feature provides a cushion to the chosen monthly income against future inflation.


* Guaranteed Terminal Benefit – Over and above the last guaranteed monthly income and monthly income booster, a lump sum Guaranteed Terminal Benefit is paid with the last installment of Guaranteed Monthly Income . For the 6 pay variant this is 150% of annual premium, while for the 11 pay this is 200% of annual premium. 


* Safety and transparency of returns - Investments are made only in highly secure investments ensuring minimal risk and low volatility. The MIB crediting rate is linked to the 5 year Government Security Benchmark Rate published in the public domain by FIMMDA. An interesting feature of this plan is that every policyholder will be communicated the MIB credited to his/her policy within 10 days of receipt of premiums. All MIBs will be accrued and guaranteed to be paid by the time the customer completes premium payment term.


* Comprehensive Insurance cover- While the plan is savings focused, it also offers comprehensive death benefit to ensure that the policy objectives are fulfilled even in case of such an exigency. The death benefit consists of (a) return of all premiums paid immediately, (b) the guaranteed monthly income is accelerated to begin from the following policy anniversary till the policy term in addition to the 10 years of guaranteed monthly income and guaranteed terminal benefit, and (c) the remaining premiums are funded by Max New York Life to ensure that all monthly income booster benefits are also paid to the nominee as intended.

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Farmers must get land's potential value - DLF Chairman

Mr. K P Singh
In India land acquisition for industrial  (SEZ) and residential projects has become a controversial issue with farmers demanding higher compensation in Noida Extension, on the outskirts of Delhi, which they claim was acquired at throwaway prices..

Recently  the Allahabad High Court directed that land in Noida Extension be returned to farmers, sending ripples across an industry hit by high home loan interst rates and low sales.

Mr. K P Singh, Chairman of DLF Said " Two revolutions are happening. One is a revolution related to transparency and the second is related to acquisition of land. Without land, how can you have development of roads, highways, townships, etc? But it must be done based on rationality. If the government is able to settle these issues in the new land acquisition Bill, then we will be a winner, otherwise we will continue with the problem,"

Mr. K P Singh also said  "All policy framework since Independence has been done by urban people. There is no true representation from rural areas.
Government to make rehabilitation integral to land acquisition in the new Bill and said instead of a one-time payment, an annuity-linked payment system stretching over a period of time should be devised. Land is an emotional issue for the farmer in India. You cannot deal with his reaction by giving him money. Pay the money, but pay the right money.""
In Haryana farmers receive annuity for 30 years.
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AEGON Religare iMaximize ULIP Plan

Mr. Yateesh Srivastava
AEGON Religare Life Insurance today announced the launch of an online protection plan on a ULIP (unit-linked) platform called the AEGON Religare iMaximize Plan. This plan is available exclusively online and is specially targeted at HNI (High Net-worth Individuals) who are looking at protection of both, life as well as their goals and aspirations.

The AEGON Religare iMaximize Plan can be bought online within 10-12 minutes by visiting buyonline.aegonreligare.com

Speaking on the occasion of the launch of AEGON Religare iMaximize Plan, Mr. Yateesh Srivastava, Chief Marketing Officer, AEGON Religare said, “The growth of an internet consuming population, eCommerce and the success of our first product offering on the eSales platform - AEGON Religare iTerm Plan, makes us confident that the online space will emerge as a significant channel of distribution in life insurance. The AEGON Religare iMaximize Plan is targeted to the ‘New Age’ customer who prefers a convenient, hassle-free and a non-intermediated process while buying any financial product."

He also said, ''This comprehensive plan offers protection for life as well as protection for his dreams and goals. This is achieved through a ‘triple-benefit option’ which in case of death pays the sum assured, pays an annual income benefit to the nominee for the remainder of the term and keeps the policy alive for the intended term so the corpus expectations are met at maturity. With its transparent charge structure and substantial returns, it’s ideally suited for HNI customers. It is our intention to be where our customers are and where they are going to be in the future. The AEGON Religare iMaximize Plan is a step in creating a broader set of offerings online.”

Unique Benefits:

The AEGON Religare iMaximize Plan offers the following unique benefits:

* It offers zero premium allocation charge. It thus invests 100% of the premium. Charges that apply are mortality charges, fund management charges and policy administration charges.

* AEGON Religare iMaximize Plan offers triple protection upon death of the life assured:
a.    Sum Assured is paid to the nominee immediately.
b.    Income Benefit – An amount equal to the annual premium is paid to the nominee, every year, till the end of the policy term.
c.    Premium Continuance Benefit – All the premiums due are waived-off and paid by AEGON Religare Life Insurance. The policy continues and the nominee receives fund value on maturity.

*  iMaximize Plan offers the option of two investment portfolio strategies:
a.    Self Managed Portfolio Strategy, wherein one can choose to invest in Secure Fund (Conservative) , Stable Fund (Moderate) and Accelerator Fund (Aggressive).
b.    Trigger Portfolio Strategy, wherein all of the investment is allocated to Accelerator Fund and whenever the fund value exceeds 110% of all premiums paid, the excess amount is shifted to Secure Fund to protect the profits.

* It offers a minimum sum assured of 10 times the annual premium and maximum of 30 times the annual premium. Monthly minimum Premium Rs. 4,000 and annual mode Rs. 24,000

* It offers special units from the 12th year.

* iMaximize  offers applicable tax benefits.

The minimum entry age is 7 years and maximum age at maturity is 75 years with a choice of three policy term options – 15 years, 20 years and 25 years. The premium paying term is equal to the policy term.

About AEGON Religare Life Insurance Company

AEGON, an international life insurance, pension and investment company, Religare, a global financial services group and Bennett, Coleman & company, India’s largest media house, have come together to launch AEGON Religare Life Insurance Company Limited (ARLI). This venture is dedicated to build a profitable customer-centric business with scale, providing a work environment that fosters excellence and innovation. This joint venture will balance a local approach with the power of an expanding global operation.

ARLI launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customised advice and enhancing the overall customer experience through superior service.

About AEGON


As an international life insurance, pension and investment company, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 27,000 people and serve some 40 million customers across the globe. The company’s common shares are listed on three stock exchanges: Amsterdam, New York and London. It manages EUR 409 billion in revenue generating investments. AEGON has more than 160 years of experience with its roots going back to 1844. http://www.aegon.com
 About Religare Enterprises LimitedReligare Enterprises Limited (REL) is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films. With over 10,000 employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals, and retail investors. http://www.religare.in


For further information

Suman Purohit, AEGON Religare Life Insurance
suman.purohit@aegonreligare.com   
+91 9819621945

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When increase your insurance policies?

Most of us review our insurance covers periodically. Some important situations we change our insurance policies.

You also need to review your insurance cover from time to time in a bid to ensure that you are adequately insured and your dependants are taken care under any unforeseen circumstances.

For instance, in the early stage of life when you have just started off your career, there is no real need for life insurance. However, circumstances undergo a sea change in late 20's or early 30's when you mature and get married. Then you need to assess your risks and buy/review your policies, just to ensure that your coverage is sufficient for your new needs.

Listed here are some of the stages in life during which you need to reexamine your insurance needs:
Getting married, the birth of a child, and being promoted/ salary increase taking loan, Job loss..!


* Getting married

Your are recently married. Please, check if your spouse has life cover. If your spouse is an earning member, you would have to calculate a combined Human Life Value (HLV), the expected life-time earnings of an individual, and change the life cover accordingly.
After marriage one needs to review one’s coverage to take adequate life cover in a bid to protect one’s spouse and family from the risk of premature death.

Mr. Anil Rego, CEO, Right Horizons ( Bangalore based personal wealth management firm) Said, ''You can either avail of a joint-life cover or split the cover and buy individual policies in accordance with your earnings"

If your spouse (Husband/Wife) is not earning, the life cover should be nearly doubled.

If the spouse is working, then her income earning capacity also needs to be protected and if she is a housewife, she needs to be given adequate protection which could safely tide her over any financial crisis that might occur in the absence of the breadwinner.

At this stage some critical illness cover is also required, so as to cover one against any mishappening which may lead to non-performance of job for some time.

After marriage, you might want to make your spouse the nominee for your policies or change the nomination of your life insurance cover from your spouse's name to other family member after a divorce.

*  Increase in Income/Salary Level

The life insurance cover should be increase every 3 or 5 years. Same time life coverage calculated according to the Human Life Value.
The thumb rule is to have a life cover which is nearly 10 times your annual income. So, reassess your life cover periodically and avail of an additional cover accordingly.
One can also get an individual health cover or take top-ups to increase the scope of an existing policy.

Also, your insurance cover should change with your age, lifestyle and financial goals.


*  Take any  loan

As the person grows older, he starts accumulating assets on loans, like buying a dream house or a car. However, this also increases his liabilities which acts as a trigger to go for a larger or new insurance cover.

If you take a Car Loan, Pesonal Loan, home loan. Then talk to your insurer and add a rider to provide extra cover. Otherwise, buy a term plan equal amount to the home loan.

* Having Children

You may need more life insurance to cover the cost of raising your children.

In health insuranc policy update the list of beneficiaries to include your spouse and children. In the family-floater health policy, spouse and children will be add easily.

For long-term goals like your child's education or marriage to take moneyback policies, which give periodic paybacks of lump-sum cash, for this purpose. Choose a plan which offers a waiver of premium benefit. This will ensure that the policy doesn't lapse if you are unable to pay the premiums due to some mishap. Your child's financial needs would be taken care of even if you are not around.

* Job loss..!

If you loose a job or your business venture runs into losses, you may not cutting down your insurance premium. Because, the cash flow decreases, any unwanted event happen, your family may Surfer. So, continues insurance premium. But, the same time, your financial position is very critical, you can consider surrendering a policy and reduce the coverage to tackle the situation. But, be prepared to pay the surrender charges and get a lower return if you are giving up the policy before the end of the lock-in period. So, use this as the last option.
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HRA Should be taken into EPF contributions.

The Madhya Pradesh high court's ruling that employee benefits, such as house rent and conveyance allowances, should be taken into account While computing the employee provident fund contributions. It may soon be implemented all over India.

Mr. Samirendra Chatterjee , Central Provident Fund Commissioner said, ''The Madhya Pradesh high court's ruling was conveyed to EPF offices in the Madhya Pradesh state, but he said it could be implemented all over the country in consultation with the ministry of labour."

The ruling marks a shift from the present arrangement where the employees have to contribute 12% of their basic salaries while the employers have to match the contributions. Acccording to the new order will mean higher retirement corpus for employees. Same it some extra amount go EPF account, though it would result in a cut in their take-home package. But it will also bring additional burden on the companies.

Meanwhile Mr. Michael Dias, Secretary of The Employers Federation (Delhi) said, "Most of the employers will have to stop salary hikes"
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LIC HFL net profit up to Rs 256 crore

LIC Housing Finance  a 21 %  jump in net profit at Rs 256.5 crore for the quarter ended June 30, 2011

The company had posted a net profit of Rs 212.02 crore for the corresponding quarter of the previous fiscal, LIC Housing Finance said in a filing to the Bombay Stock Exchange ( BSE).

During the three months ending June 30, 2011, the total income of the company increased by 40 per cent to Rs 1,418 crore from Rs 1,015 crore in the same period of the last fiscal, it said.

About LIC Housing Finance..!
LIC Housing Finance Ltd. is one of the largest Housing Finance company in India. Incorporated on 19th June 1989 under the Companies Act, 1956, the company was promoted by LIC of India and went public in the year 1994. The Company launched its maiden GDR issue in 2004. The Authorized Capital of the Company is Rs.1500 Million (Rs.150 Crores) and its paid up Capital is Rs.950 Millions (Rs.95 Crores). The Company is recognized by National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange.

The main objective of the Company is providing long term finance to individuals for purchase / construction / repair and renovation of new / existing flats / houses. The Company also provides finance on existing property for business / personal needs and gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments.

The Company possesses one of the industry's most extensive marketing network in India : Registered and Corporate Office at Mumbai, 6 Regional Offices, 13 Back Offices and 181 marketing units across India. In addition the company has appointed over 773 Direct Sales Agents (DSAs), 3400 Home Loan Agents (HLAs) and 615 Customer Relationship Associates (CRAs) to extend its marketing reach. Back Offices spread across the country conduct the credit appraisal and administrative functions.

The Company has set up a Representative Office in Dubai and Kuwait to cater to the Non-Resident Indians in the GLCC countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia. Today the Company has a proud group of over 10,00,000 prudent house owners who have enjoyed the Company's financial assistance.
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Godrej Properties develop residential projects in Hyderabad

Godrej Properties has entered into a profit sharing agreement with Godrej & Boyce to develop residential projects in Hyderabad and Thane. Under the agreement, Godrej Buildcorp will develop a 9.16 acre at Moosapet, Hyderabad. The  developable area will be nearly 20 lakh square feet. In this project, Godrej Properties will get 35%t of the profit generated from the project.

Godrej Property Developers will develop 3 acres at Thane, where the sale area will be nearly 2.6 laks sq ft. In this project, Godrej Properties' profit share will be 32%t of the profits generated from the project.

Mr. Pirojsha Godrej, ED (Executive Director), Godrej Properties
, said, "We are very happy to have entered into two  Limited Liability Partnership with Godrej & Boyce. These are the second and third developments after our project, The Trees, in Mumbai that we will do in partnership with one of our Group companies. We look forward to additional future opportunities to partner with our Group companies. "

About Godrej Properties..!

Established as Godrej Properties Ltd. in 1990
       
          One of the first real estate companies to have obtained an ISO certification
       
          Projects in 11 cities across India
       
          Upcoming development of 83 million square feet
       
          Prime locations, good value, excellent construction, efficient support
       
          Collaboration with outstanding associates
            
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Debt Mutual Funds

A Debt Mutual fund is a type of mutual fund.

It is designed especially for the low risk investor whose main aim is capital preservation coupled with decent returns.
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Equity Mutual Fund

This type of mutual fund invests primarily in stocks.

The fund's goal is to make money from increases in the prices of the stocks that it holds. An equity growth fund invests primarily in growth stocks.
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UK home price dip, Rightmove Plc said

UK home sellers lowered asking prices in July for the first time this year as a mortgage squeeze deterred buyers.
Asking prices dropped 1.6% from the previous month, when they had gained 0.6%, the UK's biggest property website Rightmove Plc said. 70% of properties listed in 2011 are still available for sale, which Rightmove described as a "sobering reflection" of the market.

Mr.Miles Shipside, Commercial Director of Rightmove Said, "We expect further falls over the next few months as buyer momentum ebbs away due to a combination of seasonal factors and a continuing lack of both mortgage finance and buyer confidence,"

Seventy percent of regions tracked by Rightmove showed declines in July from June, led by a 3.5% drop in East Anglia. Asking prices in London fell 1.4 % to an average £432,641, though they are still up 2.5% on the year.

Acoording to Bank of England data shows, UK mortgage approvals have stayed below 51,000 in every month since the end of the yaer 2009, compared with 128,512 at the end of the year 2006, before the onset of the global credit squeeze,

 In May, 2011 Banks approved 45,940 home loans

The central bank left its benchmark interest rate at a record low of 0.5% per cent this july month to support the economic recovery through the biggest fiscal squeeze since World War II.
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Online property auctions by banks :Advantage, disadvantage

In India online world is a very fast improvement. Discounts and deals available for a wide range of products. The latest addition being real estate auctions by banks and housing finance companies, at a rate cheaper than the market.

When borrowers fail to repay loans, banks auction the property to recover dues. These auctions take place under the SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest ) Act.

Banks and housing finance companies have tied up with online real estate sites such as indiaproperties.com and Arms, the retail debt recovery arm of asset reconstruction company Arcil.

Last one year Banks and housing finance companies, both have collectively auctioned nearly 1,500 properties across India.The majority of real estate auctions being residential.

The initial part of the process is similar to offline auctions. About 30 days prior to the date of the auction, advertisements are published in one English and one regional daily paper.

To participate, interested parties must give their bids in a sealed envelope to the auctioneer, along with a certain percentage of reserve price as earnest money deposit. The amount is refundable if one withdraws from the process or does not win the bid.

Advantage, disadvantage of Online auctions

For online auctions, they must also give a separate bid form, requesting a log-in address and password.

These are different from an offline auction in the way they are conducted. On the given date, at a pre-specified time, bidders must log in to the website with the address and password issued to them. The bidding takes place live. All participants can view the bids placed by others and accordingly, revise their own.

on due to internet connectivity at your end.

The advantage of an online auction is transparency. Buyers know the number of participants and can see all the bids.

Also should take care of the possibility of dummy bids being placed to raise the price of the property.

Besides, with participants being spread out geographically, chances of them colluding to swing the outcome their way and put any single participant at a disadvantage are lower.

Now a days most people llike auctioned properties. Because auctioned properties are 1-20 % cheaper than the market prices. And, that is the maximum discount you can expect, irrespective of the platform — online or offline.
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Types of Health insurance in India

Health insurance popularly known as mediclaim provides healthcare costs if the insured is hospitalized for more than 24 hours. With medical expenses increasing skyrocketing with passing time, health insurance is excellent option to make sure that you receive best healthcare at low costs.

4 types of health insurance:
1Individual health insurance: This is health cover for individuals. You can choose Sum Assured as per your requirements and make sure that you are covered if any medical situation arises like due to accient hospitalized and

2 Family floater policy: Family floater provides health insurance to your complete family under one policy. The premium is priced on the basis of age of senior most member of your family.

These plans basically cover your family and there are two ways to do it:

* Each member of family has cover of same amount. for example a family of 4, each one has cover of 1 lakh each.
* A set sum assured is made available to the family member whoever falls ill. Example – A family of 4 members take sum assured/cover of 4 lakh. If one falls ill he has access to 4 lakh. Suppose he uses 2 lakh then the other members have access to amount of 2 lac.
* Combination of individual Sum Assured plus family floater Sum Assured.

3. Extended family cover: Family health insurance was usually available for close family of 2 adults and 2 children. However these days more and more relationships are getting included so that a single policy can be taken to cover all relatives. The major advantage of this policy is single policy and higher cover. Max Bupa Family First covers as many as 13 relationships to fulfill needs of joint family.


4. Senior Citizen Policy: Recent years some companies have launched health insurance especially for senior citizens aged above 60. These policies are hassle free, can be renewed lifelong and with no pre insurance medical tests. Star Health, National insurance companies had such a plan.


Tax Benefits of health Insurance:

Health Insurance provides the following tax benefits under Sec 80D.
If a person purchases a health insurance policy for himself / spouse / children, he can claim a tax deduction of upto Rs. 15,000. When the person purchases a health insurance policy for his senior citizen parents - jointly or singly - he is eligible for an additional tax deduction benefit upto Rs. 20,000.
It does not matter if the policies are Individual or Family Floater.
Thus, totally the person can claim a tax benefit of upto Rs. 35,000. At the highest tax bracket of 30%, this amounts to a tax saving of Rs. 10,815.
Note: The policy holder and his parents are senior citizens then claim Rs. 40,000.
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Types of Health insurance

Health insurance popularly known as mediclaim provides health care costs if the insured is hospitalized for more than 24 hours. With medical expenses increasing skyrocketing with passing time, health insurance is excellent option to make sure that you receive best health care at low costs.

Four types of health insurance:

1.Individual health insurance:

This is health cover for individuals. You can choose Sum Assured as per your requirements and make sure that you are covered if any medical situation arises like due to accident hospitalized and

2. Family floater policy:

Family floater provides health insurance to your complete family under one policy. The premium is priced on the basis of age of senior most member of your family.

These plans basically cover your family and there are two ways to do it:

* Each member of family has cover of same amount. for example a family of 4, each one has cover of 1 lakh each.

* A set sum assured is made available to the family member whoever falls ill. Example – A family of 4 members take sum assured/cover of 4 lakh. If one falls ill he has access to 4 lakh. Suppose he uses 2 lakh then the other members have access to amount of 2 lac.

* Combination of individual Sum Assured plus family floater Sum Assured.

3. Extended family cover:

Family health insurance was usually available for close family of 2 adults and 2 children. However these days more and more relationships are getting included so that a single policy can be taken to cover all relatives. The major advantage of this policy is single policy and higher cover. Max Bupa Family First covers as many as 13 relationships to fulfill needs of joint family.


4. Senior Citizen Policy:

Recent years some companies have launched health insurance especially for senior citizens aged above 60. These policies are hassle free, can be renewed lifelong and with no pre insurance medical tests. Star Health, National insurance companies had such a plan.


Tax Benefits of health Insurance:

Health Insurance provides the following tax benefits under Sec 80D.
If a person purchases a health insurance policy for him/her self / spouse / children, he can claim a tax deduction of up to Rs. 15,000. When the person purchases a health insurance policy for his senior citizen parents - jointly or singly - he is eligible for an additional tax deduction benefit up to Rs. 20,000.
It does not matter if the policies are Individual or Family Floater.
Thus, totally the person can claim a tax benefit of up to Rs. 35,000. At the highest tax bracket of 30%, this amounts to a tax saving of Rs. 10,815.

Note: The policy holder and his parents are senior citizens then claim Rs. 40,000.
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Health Insurance: Floater plan vs Individual Plan

A lot of confusion among the people taking a health insurance Floater plan or Individual Plan. Here an example,

Mr. M, 33 year, was taking for a health insurance cover for his family that is him and wife and one child. He was very surprised when his insurance advisor gave him two quotes: one was the total cost of individual covers for the three family members and the other a family floater policy, covering all of them — him, his wife and his 5 year-old daughter.

Mr. M didn't know the difference between an individual plan and a floater policy. The advisor said the premium for a family floater plan with a sum assured of Rs 3 lakh would be nearly Rs 7,750 while the total cost for individual covers would workout to be Rs 12,150 for a cover of Rs 3 lakh each. Needless to say, Mr.M why was confused.

To avoid confusion, one must understand the difference between an individual cover and a family floater cover. An individual plan covers only the policyholder, where as a family floater covers the entire family, usually comprising self, spouse and two dependent children. Some plans also covers dependent parents.
Usually a family discount of up to 10% on the total premium when the husband, wife, dependent children.

A Family floater health insurance policy is a better option if you want your entire family to be covered under a single health insurance policy, the reason is that you get a higher cover at a lower cost and all the family members are covered for a much larger cover as compared to an individual policy. A Family Floater Policy is usually less expensive as compared to Individual Health Policies. In comparison to an Individual health insurance policy, a family floater will cost at least 25 to 30% lower.

Advantages of a floater plan



* The main advantage of a floater plan is the flexibility that comes with it. Any family member can lodge multiple claims. the sum assured, in a year. So, any member of family can claim up to sum assured. But in an individual cover, only the individual who has taken the policy can make a claim and that too for the amount he/ she is covered for. In case of only one claim in a year, the family member gets a greater claim amount compared to what he might have on an individual cover

* A family floater policy is also easier to manage than an individual plan. While renewing, you just need to remember a single date, instead of three or four dates in the case of individual plans.

* One more point which goes in favor of Family Floater is that, you have only one document to manage, but if you buy an individual policy then for every member you have separate documents to manage.

* In a floater plan , it is easy to add a new family member, like your spouse and kids.
But, with individual cover, a fresh policy needs to be taken every time there is an addition to the family.

* In case of the unfortunate dead of the senior member of the family, other members of the family can continue with the floater without losing any benefits.

* It is great for younger families with members having low health risk.


Disadvantages of a floater plan

* Individual policy is available for people above 60 years, but you cannot cover a person above 60/65 in a family floater health policy.

* If a family has a floater plan for a sum assured of say Rs 3 lakh, and if the entire family (example 4 members) suffers medical emergencies in an accident, for instance, then in such a case the cover would be inadequate for the family, as each of them may require about Rs 2 lakhfortreatment. The individual will then have to shell out money from his/her pocket for treatment. In such a scenario, an individual cover will score better . If there is a medical cost of Rs 2 lakh on each individual due to an accident, each of them can claim Rs 2 lakh, provided they are insured for that amount, and they will not have to shell out from their pockets.

* Age would be one of the important parameters to look at. If your parents are above 60, then it is likely that they could have higher claims. Hence, they would be better off with individual plans.

* The Policy is expensive for the families with low health risk.

Some noted points:

* If you are covered by your employer , experts recommend that you buy your own family floater also, to add to the one offered by your employer, as it helps take care of interim periods between job switches.

* If you need to have higher medical insurance as your age increases, you can take a floater plan.
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Tamilnadu government hikes power of attorney fees from Rs. 50 to Rs.10,000.

The Tamilnadu government has effected manifold increase in the registration fees in respect of agreements for the deposit of title deeds and lease deeds, besides the fee for registration of instrument of power of attorney.
In the case of title deeds, the ceiling on stamp duty has been revised from Rs. 5,000 to Rs. 25,000 and the cap on registration fee from Rs.1,000 to Rs. 5,000.
However, there is no change in the quantum of the duty and the fee which remain at 0.5 per cent and one per cent respectively.

According to Commercial Taxes and Registration Department, case of lease deeds, the maximum registration fee had been fixed at Rs. 20,000 instead of Rs. 5,000.
The existing registration fee of Rs. 50 prescribed for instruments of power of attorney to sell immovable properties had been hiked to Rs. 1,000 if the power was given to family members and Rs. 10,000 if the power was given to others, that is real agents.
"The government's move to hike fees, especially those for power of attorney, was to ensure that real estate brokers did not change power of attorney several times for a single piece of land and also to prevent land grabbing" said registration department sources.
In Delhi, power of attorney for outsiders should be discouraged and banned.
Mr. Dharmendra Pratap Yadav, Inspector General of Registration Said, ''In 2010-2011, more than 3 lakh power of attorney transactions had been carried out. This fetched us only Rs 1.75 crore. The hike in fees would generate more than hundred-fold revenue. However, there would be no increase in guideline value.""
According Mr. Dharmendra Pratap Yadav, In 2009-2010, the total number of documents registered was 27,31,026, from which the government earned more than 3,000 crore. In 2010-2011, more than 30 lakh documents were registered, from which the government earned more than 5,000 crore"
With this, the government hopes to generate additional revenue of Rs 500 crore every year.



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Fastest growing real estate agency in Jaipur- MARWAR PROPERTIES

MARWAR PROPERTIES (AN ISO 9001:2008 Certified Company) is a one of the
fastest growing and leading real estate agency in Jaipur, Rajasthan.

It is dealing with sale & purchase of land for Projects like
Townships, SEZ, Universities, Complexes, Hotels, Group Housing,
Industries, Warehouses, & Institutes etc in and near vicinity of
Jaipur (Rajasthan).

Also deals in Ready Hotels/Pre-Rented Malls/Industrial Approved
lands/Land for Hotels etc.

 MARWAR PROPERTIES project sites are on the following locations:--

Jaipur-Delhi Road
Jaipur-Tonk Road
Jaipur-Sikar Road
Jaipur-Ajmer Road

All major roads passing through Jaipur

MARWAR PROPERTIES also provide land for Projects at the following locations: --

Behror
Neemrana
Sirohi
Pali
Jalore
Bikaner
Jodhpur
Jhunjhunu

Conduct : M.S.RATHORE, http://www.marwarproperties.com/
Corporate Office:-- S-26, JDA CENTRAL MARKET VAISHALI NAGAR,  JAIPUR-12
Mobile-91-9928079563,  9414395168,  9001890101,  9414238517,
9460604611, 9828153740


More About ..!
Marwar Properties is a leading real estate agent and developer with a wide portfolio of business interest in the real estate arena. Established by the Mr. R.S. Rathore 2007 in the name of Sun of Rajasthan the leading residential real estate agent and developer in major cities / metros.

Since our establishment our goal has been to provide our customers with our quality services & provider with premium residential & commercial properties that are at par with the best in the world. With our decades of experience & refined expertise, we at Marwar Properties provide our clients with a selection of properties to the best of their statisfaction.

With progressive methods & modern systems, we aim to set benchmarks in the industry for providing quality services in a professional and ethical manner to satisfy our customers as well as our associates. It is in their satisfaction that we see & measure our success. One of the leading real estate agent, residential real estate agent and developer.
Management Team

One of the primary building blocks of any successful organization is the team that runs the show. The legacy of leadership has passed down the ages is today in able hands & run by a talented & experienced group of professionals.


The company provide a wide range of consultancy services which includes total real estate solution. Extending across a choice range of properties. Our services cover all aspects of real estate.

The expertise extends across a wide gamut of real estate services such as:-

    Land use conversions

    Levying of development charges (external internal)

    All aspects of building & development laws.

    Signing of joint, ventures and collaboration agreement etc.

    Architects, interior designers, engineers, valuers landscapers.

    We provide corporate design solutions for exterior and interiors.

At Marwar Properties, they have over the years cultivated a strong network that includes reputed clients, project associates & regulatory agencies. Our excellent rapport with various Government Departments & Development Authorities, including the NCR Board and Urban Development & Housing Ministry of Rajasthan, have stood us in good stead in efficient & productive management of various projects.


Future Initiatives

With a vision to provide premium housing and commercial space to customers, the company have consistently adopted an bold and visionary approach to real estate development. We aim to introduce mega-township projects throughout India. These township projects shall be complete in all aspects such as hospitals, hotels, schools, malls, Cineplexes, residential complexes, villas, etc.
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Hotel Radha plans resorts in Tamil Nadu

Chennai-based hospitality company Hotel Radha Pvt Ltd, which operates a resort in Mahabalipuram under the brand Chariot Beach Resort, is planning to expand its horizon with more resorts in Tamil Nadu and Puducherry.

Mr.R Ravi, MD of Hotel Radha, “We are planning four resorts in Puducherry, Kumbakonam, Madurai and Coimbatore. The company has already identified a 12-acre land in Puducherry and proposes a 40-key resort there. It is on the lookout for similar parcels of land in three other cities.This would involve an investment of Rs 65-70 crore .which will be funded by selling the company's 40-acre land on Old Mahabalipuram Road”.

Besides, the company, in its existing 40-acre, 70-key property on East Coast Road, has added an activity centre with infrastructure for adventure sports, such as swing-walk, parallel rope, Tarzan swing archery and rifle range. With this facility, it now targets the corporate world.

So far, the company has invested Rs 40 crore in developing this activity centre. Of this, promoters equity is Rs 30 crore and the remaining Rs 10 crore was through debt.
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DLF’s debt rescue - Plotted development strategy comes

Indian Realty major DLF Ltd’s strategy to go for plotted development -- a move aimed at weathering the blow from the rising input cost and inflation -- seems to have clicked. To further strengthen its cash flow, the company is also looking at asset monetisation worth around Rs 3,000 crore, though it has not specified a timeline for it.

In the first quarter of the current financial year (2011-12), the company has launched 45 lakh square feet of plots, which is almost 50% of the targeted plot launches in the current fiscal. The plots launched in Gurgaon are likely to rake in around Rs 1,125 crore while those in Indore are likely to contribute another Rs 250 crore to the company.

Mr.Rajeev Talwar, executive director, DLF group said, “Plotting development is doing well. We have got a good response in Gurgaon and Indore. Plots come as a ready stock that can be easily sold. And since execution cycle is lesser, cash flow is better. The entire amount comes within eighteen months,” 

On the asset monetisation front, the company is looking at sales of Rs 3,000 crore of assets. It is likely to put Aman resorts on the block and fetch Rs 2,000 crore from it. Talwar said that the company is indeed planning but no timeline can be given for the development. The other assets that DLF is planning to sell off are Pune IT SEZ -- spread across 5.1 million square feet -- and Noida IT park.

In the current fiscal, the company is also looking at launches in Panchkula and Lucknow spread over three million square feet. In the second half of this fiscal, more launches are likely in Chandigarh and Gurgaon.
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Casa Grande offers villas Adyar in Chennai

An emerging property development company, Casa Grande  that has been promoted by a team of young professionals in Chennai, has  launched a new residential project that will offer luxury villas to homebuyers very close to the city.
The new project will offer 25 luxury villas over a 1.37-acre land, at Perungudi, an industrial hub, on OMR, Chennai’s IT corridor.

Mr. M Arun Kumar, director, Casa Grande said, “We founded Casa Grande with four core values,  ethical, trustworthy to provide good design, great aesthetics, quality and value for money. The villa project at Perungudi will reiterate all these values once again to our customers,” 

The project will also offer luxury amenities like a swimming pool, fitness centre, clubhouse and a multi-purpose hall for customers convenience. The villa is priced at Rs 1.8 crore onwards depending on size, amenities and features that homebuyers would seek.
Unlike most other projects on OMR, that are quite a distance away from the city, Perungudi is just around a ten-minute drive from Adyar, a premium residential-cum-comme¬rcial zone of the city. In fact, as if to highlight this USP, Casa Grande plans to promote this project with a marketing line – ‘You get a villa of 2,800 sq ft at the same price as that of a 1,500 sq ft apartment in Adyar’.

The villas will come in  2,700 sq ft to 3,219 sq ft and is being offering in 4 B H K option to suit individual requirements. Each villa comes with an individual covered car park and will also have exclusive facilities including modular kitchens and piped gas supply.
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MARG listed among India’s top 500 companies 2010

Mr. MGRK Reddy, CMD, MARG
MARG Ltd, the diversified business company  was listed in the 11th edition of “India’s Top 500 companies 2010” of the global business information provider Dun and Bradstreet.

MARG Ltd release said. “Dun and Bradstreet, the world’s leading provider of global business information, has listed Chennai -- headquartered MARG Ltd among India’s Top 500 companies 2010,” 

The D&B listing is based on the evaluation process by the Economic Analysis Group and rankings were based on financial parameters like total income, net profit, networth and market capitalisation among others.

Mr. MGRK Reddy, CMD, MARG Ltd “We are delighted to feature in this prestigious list of Dun and Bradstreet’s premier publication. India’s Top 500 Companies 2010. The listing reaffirms our faith in the pioneering spirit to vision a new India and to foster a new face of Indian infrastructure that is localised and customised to demographics and socio-economic factors.” .

About MARG...!
MARG Group has projects worth more than Rs 5,000 crore under execution, a seasoned human capital of more than 1000, global partners in the Infra space and offices spread across India, Singapore and China.
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Freebies rain for flat buyers in Mumbai real estates

This monsoon, housing sale has decreased by almost 40 per cent across the Mumbai city. Taking a cue from malls and designer boutiques that offer huge discounts and free gifts during monsoon sale, developers are ready to offer freebies and negotiate on the cost if the buyer ready to book the flat on the spot. 

To lure buyers, developers are giving LCD television sets,  refrigerators and A/C for free. Some promoters giving cars also.

Mumbai based one main Broker Said, '' These are marketing gimmicks used mainly in dull season to attract the buyers. A few developers are also slashing marginal rates, Rs 100- 200 per sq ft. This, too, depends on the seriousness of the buyer"

A real estate expert Said, ''After a year of upswing, there will soon be a correction in property prices. So, prospective home buyers have decided to wait and watch.
High interest rate on home loans has also hit those seeking to buy a home. A year ago, home loan interest rate was 9 per cent, now it is up to 11- 12%. Even the high inflation is affecting the buyers’ budget. In such a scenario, buyers do not want to take any financial risk". 

But a Mumbai based developer has predicted that although prices of apartments in the far-off suburbs, including Thane and Navi Mumbai, will fall, south Mumbai will remain mostly unaffected.
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Rising income levels sees hill stations booming

Recently the website Makaan.com  conduct a survey over 4,800 respondents nationally, with the majority of them belonging to the age group of  25-35 years of age.
According to the survey,  family income on the rise, hill stations in India are increasingly becoming attractive real estate destinations for more and more Indians.

The survey findings,  ''While some want an embode in hill stations as only a holiday home, some others want it as a second home they can drop in any time they please. This appetite, though still niche, is catching up fast amongst Indian home buyers.
Indian hill stations are emerging as probable residential options. Gone are the days when owning a house in the hills was mostly looked from an investment point of view; today a large majority of home buyers are ready to move into the hills and are looking at these destinations for residing purpose in the near future.

With 37 0f  survey takers expressed, the purpose of buying a house in the hills was clearly self use, be it for now or for future. 29 per cent 0f  respondents want to look at such options as a holiday destination or weekend getaway. Interestingly, only 21 per cent want to buy real estate in the hilly areas as probable investment options. The remaining 14 per cent is made up of those who want to beat the city life and plan to settle post-retirement in these hill areas.
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LIC HFL Property Fair, Chennai - V. K Sharma

LIC Housing Finance and other major builders and promoters have come together to come up with a new mega property fair in Chennai called Ungal Illam 2011.  The venue of the fair is at Rani Meyyammai Hall at Egmore.  This fair is in association with builders like Jain Housing, Marg Properties and Ruby.

The Ungal Illam 2011 from July 15, 2011 to July 17, 2011.  The timing being 10 a.m. to 8 p.m.  The entry for this fair is free.

If you are looking for a one stop solution for your property needs you can visit such fairs and get to know about various projects and homes that are currently on at in and around Chennai.

Speaking to reporters on the sidelines of the LIC HFL's property exhibition here Mr. V. K Sharma Director and Chief Executive Officer said, '' LIC Housing Finance Ltd plans to launch a Rs 500-crore venture capital (VC) fund for urban infrastructure development by September.  LIC Housing Finance had already started the process for launching the fund. The company is also planning to launch a pure fixed rate housing loan product"
   
LIC Housing Finance would raise interest rates if the Reserve Bank of India (RBI) increases its key policy rates. “The increase in interest rates is squeezing our margin. We did not increase the rates when the central bank revised these last time. We are waiting for the RBI guidance and if the rates are increased again, we also have to go for a rate hike.
 There would not be more than two upward revision in interest rates in future. However, We hopes that the rates would come down after that” said Mr. V.K.Sharma. ..

The current interest rate of LIC Housing Finance is around 10.15 per cent for loans up to Rs 20 lakh and around 10.75 per cent for loans above that, on floating rate basis.

The company is expecting a net interest margin of 2.7-2.8 per cent this financial year. It has a nine per cent market share in the country’s housing finance business and is expecting a 25 per cent overall growth this financial year. It is also looking at a loan disbursement of Rs 5,500 crore in southern states, compared to Rs 4,125 crore in the previous financial year.




About LIC Housing Finance..!
LIC Housing Finance Ltd. is one of the largest Housing Finance company in India. Incorporated on 19th June 1989 under the Companies Act, 1956, the company was promoted by LIC of India and went public in the year 1994. The Company launched its maiden GDR issue in 2004. The Authorized Capital of the Company is Rs.1500 Million (Rs.150 Crores) and its paid up Capital is Rs.950 Millions (Rs.95 Crores). The Company is recognized by National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format. The GDR's are listed on the Luxembourg Stock Exchange.

The main objective of the Company is providing long term finance to individuals for purchase / construction / repair and renovation of new / existing flats / houses. The Company also provides finance on existing property for business / personal needs and gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments

The Company possesses one of the industry's most extensive marketing network in India : Registered and Corporate Office at Mumbai, 6 Regional Offices, 13 Back Offices and 181 marketing units across India. In addition the company has appointed over 773 Direct Sales Agents (DSAs), 3400 Home Loan Agents (HLAs) and 615 Customer Relationship Associates (CRAs) to extend its marketing reach. Back Offices spread across the country conduct the credit appraisal and administrative functions.

The Company has set up a Representative Office in Dubai and Kuwait to cater to the Non-Resident Indians in the GLCC countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia. Today the Company has a proud group of over 10,00,000 prudent house owners who have enjoyed the Company's financial assistance.
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Sterling Holiday Resorts new MD Ramesh Ramanathan

Sterling Holiday Resorts India Ltd has announced the appointment of  Mr. Ramesh Ramanathan as its new managing director. Ramanathan was heading Mahindra Holidays and Resorts India Ltd and was also on the Group Executive Board of the Mahindra group.
Mr. Ramesh Ramanathan


Ramanathan would be responsible for consolidating the company's operations and guiding its growth in the rapidly growing holiday and vacation ownership industry in India.
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Realty Regulatory Bill to be brought in monsoon session

The Maharashtra government is contemplating introducing a Real Estate Regulatory Authority Bill in the ensuing monsoon session of the State Legislature beginning later this month. The Authority will be an autonomous body with civil judicial powers headed by a retired judge or magistrate.

Minister of State for Housing, Sachin Ahir said the Authority will function under the purview of the Maharashtra Ownership of Flats Act (MOFA). "MOFA exists but there is no implementing agency except the city civil court for the provisions of the Act. This Authority can function like one," Ahir said.

The Authority can be a redressal forum for developers as well as the tenants or flat owners.

The issue of real estate prices will not be included. MOFA does not deal with pricing. There is lot of variation between Ready Recknor rates and market prices. Similarly, there are different prices for different city survey plots.

Sachin Ahir also said"Our department is keen to get the draft bill approved in the cabinet before tabling it in the monsoon session Bill can be expanded like the Authority can be considered as Appellate for issue of deemed conveyance.""
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Jones Lang LaSalle India launches Corporate Finance division

Inida's largest international property consultancy company Jones Lang LaSalle (JLL) India, has launched Corporate Finance division. JLL Corporate Finance will address the requirements of corporates, which are not in the business of real estate to make informed decisions about acquiring, disposing of or optimally utilizing their existing real estate assets while enhancing shareholder value.

Mr. Ambar Maheshwari, MD (Corporate Finance), Jones Lang LaSalle India, "JLL Corporate Finance division has been established specifically to service companies that are not into the real estate business and yet have real estate holdings, be they leased or owned. Real estate is a substantial asset class, and unless corporates optimize the returns their real estate portfolios yield, shareholder value is compromised."
"
Generaly Indian corporates have parked funds in real estate when they have excess liquidity..

Mr. Anuj Puri, chairman and country head of Jones Lang LaSalle India, " JLL Corporate Finance will assist corporates to make informed decisions about acquiring, disposing of or optimally utilizing their real estate, regardless of whether they occupy it or have acquired it purely from an investment perspective."

About...!

Jones Lang LaSalle is a financial and professional services firm specializing in real estate services. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than USD 2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than USD 43 billion of assets under management.Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 19,700 employees operating in 78 offices in 13 countries across the region. The firm was named the Best Property Consultancy in Asia Pacific at 'The Asia Pacific Property Awards 2011 in association with Bloomberg Television

Country Headquarters

Jones Lang LaSalle

Level 9 Tower A, Global Business Park,

Sector 26 Mehrauli Gurgaon Road

Gurgaon Haryana 122 002

+91 124 460 5000

+91 124 460 5001
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Dubai attracting more Indian real estate investors

Recent years, property prices escalating very sharply in Indian cities like Chennai, Mumbai and Delhi, many Indians are looking at investing in Dubai. In Dubai property prices after a steep correction seems to have stabalised in some prime areas.

Sources said, ''Indians already are the largest buyer group across all real estate in Dubai. The enquiries have gone up and we could expect a rise in transactions.
"
Land and propery prices in cities like Mumbai have risen by 40-50% since 2009, leading some rich Indians to go off shore. In some areas of Mumbai, like in the far north, real estate prices have passed 2008 peak values. On the other hand, Dubai is getting a lot of attention after a correction of nearly 30 to 50% per cent.

Other countries like Malaysia, Singapore and Mauritius are also attracting Indian investors. Some are buying for children who are studying abroad and some people are buying second and even third properties as holiday homes.

People are buying property abroad because these are even cheaper than in India, which makes it perfect for getting a second, or a third home.
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Special cells to act on land grabbing complaints: Tamilnadu CM

As the Tamil Nadu police has been flooded with thousands of complaints of land grabbing and forcible selling during the previous DMK Regime, AIADMK Supremo and Tamil Nadu Chief Minister J Jayalalithaa announced setting up of Special Cells to take action on the complaints and restore the land back to the owners.

In a statement Chennai, Ms Jayalalithaa said, ""Special Cell was set up at the DGP Office in the city and at all the districts to inquire into the complaints and take steps to restore the grabbed land to the owners. As promised by during campaigning in the run up to the Assembly Polls""

Ms Jayalalithaa announced constitution of the special cells to go into the complaints of land grabbing during the 2006-2011 DMK Regime and take action against those involved in it under IPC and other sections.

'Also said, 'All the complaints will be inquired into and those involved in such frauds will be dealt as per law. The lands will be retrieved from them and restored to the owners. My action will give the people, who had lost their lands through forcible means during the DMK Regime, the hope that they will get back their lands". Stating land grabbing and forcibe sale of lands were rampant during the DMK Regime, she said police did not act on the complaints preferred by the affected people then.

''As many as 1,449 land grabbing complaints have been received from the people till July one this year. Since complaints of land grabbing are being received, special cells has been set up as it would be difficult for police stations to go into all the complaints," she said. Following receipt of complaints that DMK functionaries were involved in land grbabing, police have launched a state-wide crack down on the orders of Ms Jayalalithaa, resulting in more number of complaints being received by the police.
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Expand corporation limits : Realty Business in Coimbatore suburbs

The State government (Tamilnadu) planning to expand the Coimbatore corporation limits. Beacuse of that, land prices have skyrocketed in most areas of Kovai. especially in the north and east of city in the last few years.

Many IT companies and manufacturing firms setting up shop here and the government planning to add to the existing area of the corporation, this trend seems all set to continue.
Like Ganapathy, Vadavalli, Kalapatti, Sarvanamapatti, Kovaipudur, Mettupalayam, Periyanaickanpalayam Thonadmuthur land Registrationis high. The total number of registration, which was 11,805 in May 2010, has increased to 16,930 in May this year, according to Tamilnadu registration department . The growth is mainly in areas surrounding the arterial Tiruchi Road, Avinashi Road and Mettupalayam Road.
A cent of land that was bought at Rs 25,000 about 5 years ago now costs nearly Rs 7 lakh in Sarvanampatti
Property development in areas surrounding Vadavalli, which is preferred for constructing residential buildings have picked up.
But saturation in these areas meant realtors had to move to places like Thondamuthur.The mid-segment group is in a buying spree and houses are getting sold out at Rs 2,000 to Rs 2,800 per sqft. People who bought residential houses for Rs 60 lakh two years ago are selling it at nearly Rs1.2 crore now.
Coimbatore - Fastest Growing City
Coimbatore also called  is one of the top 10 fastest growing cities of India. Coimbatore district has a population of about 50 Lakhs . It is also a district capital. There are nearly 25,000 small, medium, large scale industries and textile mills.
The District has 6 taluks namely Coimbatore North, Coimbatore South ), Mettupalayam, Sulur, Pollachi and Valparai and two revenue divisions of Coimbatore and Pollachi. Coimbatore is famous for Schools, Universities, Engineering Colleges, Medical, Management Schools, Textiles- Yarn, Knitted Garments, Handlooms, Textile Machinery, Motors, Pumps, Industrial goods, Cotton, Tea, and now IT Software.
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